Monday, 23 January 2012

Lithuania and Ukraine join Poland in the shale gas revolution

Fortunately, not all East European countries are - like Bulgaria - prepared to give in to pressure from Russia and the greenies. Ukraine and Lithuania are ready to join Poland in the shale gas revolution in order to end their dependence on Russian gas:.

The Polish oil company Lotos says it will start prospecting for shale gas in neighbouring Lithuania, which wants to break the current monopoly held by Russian giant Gazprom.

Experts say Lithuania may have sufficient reserves of gas trapped in shale -- sedimentary rock containing hydrocarbons -- to cover its needs for between 30 to 50 years.

Ukraine´s Energy and Coal Industry Minister Yuriy Boiko says that his country plans to produce 10 -15 million cubic meters of shale gas in five years:

Ukraine will be able to produce 10-15 billion cubic meters of shale gas in five to seven years, Ukrainian Energy and Coal Industry Minister Yuriy Boiko has said live on Inter TV Channel. He said that these figures were based on the relevant experience of other countries.The minister said that three companies would participate in an auction to obtain licenses for geological exploration and shale gas production at the Oleska and Yuzivska areas. As for the environmental component of shale gas production in Ukraine, the minister assured that he did not expect any threats. "We have studied U.S. experience in this matter and we have not seen any environmental threats," Boiko said.